They are a quick and easy way to get price exposure, at the expense of several layers of counter-party risk.

If a company deems that risk exposure acceptable, that's on them. But my suspicion is that the risks of Bitcoin ETFs are generally underestimated. I think a company would be better off spending some small % of their Bitcoin budget on setting up a self-custody system, or at least waiting until industry standards emerge around self-custody models.

I think if you are a company and want bitcoin exposure (which is a good thing) in an accessible way (self custody is not trivial and less so for companies), ETFs are a good first step for mainstream bitcoin adoption. 

Does not matter in the long run. Let ETF's happen.

0000

ETFs are a trap, but I have to admit that Valkyrie's proposed ticker symbol is hilarious:

The Trust intends to list the Shares on The Nasdaq Stock Market, LLC (“Nasdaq”) under the symbol “BRRR.”

Daily discussion thread

saloon

ETFs are a trap, but I have to admit that Valkyrie's proposed ticker symbol is hilarious:

> The Trust intends to list the Shares on The Nasdaq Stock Market, LLC (“Nasdaq”) under the symbol “BRRR.”

https://www.sec.gov/Archives/edgar/data/1841175/000138713123007682/valkyrie-s1a_062123.htm#valkyries1aa018